Reference
Glossary
The vocabulary of education grants and aid, one row per word.
| # | Term | Plain-language meaning |
|---|---|---|
| A | Award letter | A school’s summary of the aid it is offering: grants, scholarships, work-study and any loans, usually with amounts and deadlines. |
| C | Cost of attendance | A school’s estimate of a year’s costs, including tuition, fees, housing, food, books and personal costs. An estimate, not a bill. |
| D | Deadline | The date by which a form, reply or document must be received. Federal, state and school dates are set separately. |
| D | Disbursement | The payment of aid to your school account or to you, often in installments by term. |
| E | Eligibility | The conditions a program sets for who can receive an award. Decided by the program, never by this website. |
| E | Enrollment status | Whether you attend full time, part time or less. Many awards depend on it. |
| F | Federal Student Aid | The U.S. Department of Education office that runs federal student aid programs. Its official site is studentaid.gov. |
| F | Financial aid office | The office at a school that explains, packages and administers aid. |
| G | Grant | Money toward school costs that generally does not have to be repaid when program rules are met. |
| I | Institutional aid | Aid that comes from a school’s own funds. |
| L | Loan | Borrowed money that must be repaid, usually with interest. |
| M | Merit-based | Awarded for achievement, talent or another stated strength rather than financial circumstances. |
| N | Need-based | Awarded in response to financial circumstances, as defined by the program. |
| R | Renewable | An award that can continue in later years if you keep meeting its conditions. |
| S | Satisfactory academic progress | A school’s standard for grades and course completion that students must meet to keep receiving aid. |
| S | Scholarship | An award, usually based on a stated criterion, that generally is not repaid. |
| S | State grant | A grant run by a state agency for residents, often with its own form and deadline. |
| V | Verification | A process in which a school asks you to confirm information you gave on your aid forms. |
| W | Work-study | A part-time job, funded in part through a program, whose pay helps cover costs. |
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